Derivs - Credit

Christiane Mandell, head of institutional sales across all asset classes and products for the Americas at Standard Chartered in New York, has left the firm.

Two London-based credit derivatives traders, Mustafa Khalid and Hannes Wilhelm, left Credit Suisse approximately one month ago.

Indian banks using over-the-counter derivatives will be hit with a credit value adjustment risk capital charge on top of the capital charge for counterparty default risk, under draft guidelines to implement draft Basel III proposals in the country.

Recent market volatility has emphasised the importance of well functioning markets, particularly in the wholesale over-the-counter and derivative markets, as increased proportions of execution have been arranged by voice of late.

Regulators should assess the appropriateness of derivative products before requiring them to be executed on electronic platforms, according to Robert Pickel, executive vice chairman of the International Swaps and Derivatives Association in New York.

The emergence of meta-platforms allowing investors to trade investment products from multiple issuers online is seen as the biggest threat to single dealer dominance of the structured product market in Europe.

Last December, Merriam-Webster announced that the Word of the Year was ‘austerity.’

The International Swaps and Derivatives Association has published draft taxonomies for regulatory reporting on over-the-counter derivatives.

European end users are increasingly using Chinese offshore renminbi fx products for hedging and investment purposes, with more growth expected next year.

Credit-default swap investors, such as hedge funds and asset managers, are likely to sell protection on the Markit CDX North American High Yield index next year as a way to boost investment returns and increase credit exposure to the U.S.

Europe continued to lead the widening of the sovereign credit-default swap market, ending 2.4% wider the week through Dec. 16 on fears of downgrades for multiple continental countries.

European sovereigns should adopt two-way collateral agreements when entering into over-the-counter derivative transactions, according to the International Swaps and Derivatives Association, the Association for Financial Markets in Europe and the International Capital Market Association.